PSE net income climbs to P485M from January-September

THE Philippine Stock Exchange Inc. (PSE) said that its net income in the first nine months surged 103.4 percent to P484.95 million from P238.39 million in the same period last year primarily due to higher listing revenues.  

Operating revenues grew 38.9 percent to P833.98 million from P600.63 million as all components of income increased, said PSE, operator of the country's only stock exchange, in a statement. 

Philippines invites investors from Turkey

THE government has sent a business mission to Ankara, Turkey, to invite investors in the Philippines, the Department of Trade and Industry (DTI) said Monday.

GMA Network seals strong Q3 financial performance

BROADCAST giant GMA Network, Inc. (GMA) reported strong financial results for the third quarter owing to increased advertising sales across its major revenue platforms.

Consolidated gross revenues for the third quarter of 2012 reached P3.822 billion reflecting a double-digit growth of 13 percent from the P3.384 billion recorded in 2011, while net income rose 9 percent to P573 million from P525 million in the previous year.

Inflation rate eases to 3.1% in October

THE Philippine inflation rate has slowed down to 3.1 percent in October from 3.6 percent the previous month due to cheaper prices of agriculture and fish products, the National Economic and Development Authority (Neda) said Tuesday.

Nestlé to purchase 204,000 MT of Robusta coffee by 2020

NESTLE, the biggest buyer of Robusta coffee beans in the Philippines, has committed to purchase 204,000 metric tons of Robusta coffee beans straight from farmers by the year 2020 through Farmer Connect, a direct buying system that encourages small farmers and small-scale intermediaries to sell their produce directly to Nestlé Satellite Buying Stations.

Study: Flood of money leaving China

BEIJING — Chinese investors evaded government controls to move more than $600 billion out of the country last year and the outflow is increasing, fueling economic and political risks as communist leaders prepare for a handover of power, a Washington-based monitoring group says.

Globe exec chosen as Mobile World Capital Barcelona advisory board member

GLOBE Telecom head of corporate strategy and business development Gil Genio was chosen as advisory board member of the Mobile World Capital (MWCapital) Barcelona together with 10 other highly recognized representatives of the mobile technologies and solutions industry from five continents.

MWCapital represents the interests of over 800 mobile phone operators worldwide and over 2,000 companies in the mobile ecosystem.

PAL mounts flight to Toronto

FLAG carrier Philippine Airlines (PAL) will launch a direct flight to Toronto, Canada from Manila on November 30 to keep up with the demand from the Filipino community in North America.

Security Bank receives multiple awards from Asiamoney 2012 FX Poll

ASIAMONEY, Asia's leading regional financial publication, recently named Security Bank Corporation (SBC) as the Best Domestic Provider of Foreign Exchange (FX) Products and Services in the Philippines based on its 2012 FX Poll.

SBC was voted as the Best Domestic Provider of FX Services by both financial institutions and corporates as compared with other Asian banks receiving split votes from the respective voter types.

Economic planners maintain 5% to 6% GDP growth target for 2012

MANILA –- Government economic planners are maintaining their gross domestic product (GDP) growth target of 5 to 6 percent this year despite the losses incurred due to Typhoon "Gener" and the southwest monsoon that recently hit the country.

Dr. Rosemarie Edillon, director of the National Economic and Development Authority (Neda) National Planning and Policy Staff, said the impacts of disasters are already incorporated in their economic growth projections.

Globe Business exec advances potential of the cloud

A HIGH-RANKING Globe Business official recently emphasized on harnessing the power and the potential of cloud computing, saying that locally, its relevance is on the uptake as the market realizes its viability and products are becoming accessible.

This was disclosed by Globe VP for Business Products and Services Cocoy J. Claravall during his speech, “Selecting the Right Type of Cloud and Cloud Service to Offer,” at the just-concluded Telco Cloud Partnering Strategies in Singapore.

PhilRice optimistic of attaining rice self-sufficiency by 2013

THE Philippine Rice Research Institute (PhilRice), the country’s lead in rice research and development, expressed optimism on Sunday that the country could be rice self-sufficient in 2013.

GM recalling 40,859 cars for potential fuel leaks

DETROIT — General Motors Co. is recalling more than 40,000 cars sold in warm-weather U.S. states because a plastic part might crack and cause a fuel leak.

The company is recalling Chevrolet Cobalt and Pontiac G5 sedans from the 2007 through 2009 model years and Chevrolet Equinox and Pontiac Torrent SUVs and Saturn Ion sedans from the 2007 model year.

Globe signs a new P2B term loan facility

LEADING telecommunications company Globe Telecom (Globe) has signed a P2-billion term loan facility with The Philippine American Life and General Insurance Company, The Insular Life Assurance Company Ltd. and Sunlife of Canada (Philippines) Inc.

Proceeds of the loan will be used to refinance a portion of the company's debts, as well as to fund capital expenditure requirements for 2013.

Citi Microentrepreneur of the Year Awards mark 10th year

THE Citi Microentrepreneur of the Year Awards (CMA) marks its first decade of honoring outstanding microentrepreneurs around the country.

The program has become known for its success in increasing awareness for microfinance and providing incentives to microentrepreneurs.

Export bank depositors urged to file deposit insurance claims

THE Philippine Deposit Insurance Corporation (PDIC) called on depositors of the closed Export and Industry Bank (EIB) who have not yet filed their deposit insurance claims to file their claims either by mail or personally.

The PDIC said more than 10,000 account holders of EIB have not yet filed their claims.

Globe, SingTel award scholarship grants to top Ateneo, La Salle students

FOUR freshmen students from Ateneo de Manila University and De La Salle University passed a rigorous screening process to become this year’s Globe-SingTel Undergraduate Scholarship Program awardees.

Michael Steven Molion, Danielle Royon, Germaine Erika Kaw, and Paolo Romeo Aquino passed a tough selection process that involved paper screening, intensive interviews, and leadership and behavioral assessments to be awarded the full scholarships covering tuition and allowances for the entire duration of their undergraduate course.

Coal Asia gets SEC approval for IPO

THE Securities and Exchange Commission (SEC) has approved Coal Asia Holdings' application for an initial public offering (IPO) listing 800 million shares on the Philippine Stock Exchange's first board.

Globe Business key in client shift to IPv6 technology

KEY officials from Globe Business have confirmed that it has enabled more of its clients to adopt Internet Protocol version 6, or IPv6, as its core network now currently supports this new IP addressing scheme. This advancement has enabled its customers to access both IPv6 and IPv4 websites.

Unlimited call and text, mobile browsing boost Globe mobile revenues

THE Filipinos’ penchant for unlimited text messaging and voice calls coupled with the growing popularity of mobile internet browsing have given a significant boost to Globe Telecom’s mobile revenues this year.

For the first half of 2012, Globe mobile revenues reached P33.3 billion, P1.9 billion higher than the figure for the same period last year. Mobile revenues account for 82 percent of Globe consolidated revenues which include broadband, fixed line data, and fixed line voice.

Globe 1H Capex reaches P11.7B

CAPITAL expenditure of leading telecommunications company Globe Telecom for the first half of the year reached P11.7 billion or about US$273 million as its network modernization and IT transformation programs go into full swing.

Nestlé coffee center launched in Batangas

COFFEE farmers in Luzon can now gain better access to the latest coffee farming techniques and robusta seedlings as Nestlé Philippines Inc. (NPI) launched its newly completed Nestlé Lipa Integrated Commercial Center (Nestlé LICC) last August 3 in Lipa, Batangas City.

Leading the opening were Nestlé SA Executive Vice President for Operations and Globe, José Lopez; Nestec Ltd. Corporate Head of Agriculture, Hans Joehr; and NPI Chair and Chief Executive John Martin Miller.

Nestlé coffee center launched in Batangas

COFFEE farmers in Luzon can now gain better access to the latest coffee farming techniques and robusta seedlings as Nestlé Philippines Inc. (NPI) launched its newly completed Nestlé Lipa Integrated Commercial Center (Nestlé LICC) last August 3 in Lipa, Batangas City.

Remittances reach $11.3B in first half

PERSONAL remittances from overseas Filipinos went up by 5.3 percent to $11.3 billion during the first six months of the year compared to the same period in 2011, the central bank said on Wednesday.

Tattoo offers ultimate shopping experience with Zalora

WHAT do you get when the number one broadband in the Philippines partners with the leading online shopping site? Definitely the coolest and most convenient online shopping experience!

With the speed and reliability of Tattoo plus the more than 500 brands and 15,000 great finds at Zalora, online shopping is taken to a different level.

Park Hotel Group wins first hotel management deal

SINGAPORE -- Park Hotel Group (PHG), one of Asia Pacific’s most progressive hospitality groups, announced that it has secured its first hotel management deal today.

The hotel management agreement was inked with CEL-Alexandra Pte Ltd, a wholly-owned subsidiary of CEL Development Pte Ltd, the property investment and development arm of Singapore-listed construction and property group Chip Eng Seng Corporation Ltd (CES).

Globe asserts broadband leadership

LEADING telecommunications company Globe Telecom continues to assert its leadership in the Philippine broadband industry with sustained double-digit revenue expansion driven by rising internet usage stemming from the popularity of social networking sites and the growing affordability of access devices such as tablets, PCs, and laptops.

Farm output posts marginal growth in H1

THE Philippine agriculture sector has posted a minimal growth during the first half of this year, the Department of Agriculture (DA) said on Monday.

Agriculture Secretary Proceso Alcala said that farm output grew by 0.93 percent from January to June, with a gross value of P691.4 billion at current prices.

Globe cash dividend payments to reach P8.6B by 3Q 2012

TOTAL cash dividend payments of leading telecommunications company Globe Telecom will reach P8.6 billion by September this year, representing about 86 percent of its 2011 core net income.

Globe Telecom’s Board of Directors recently approved the declaration of the second semi-annual cash dividend of P32.50 per common share payable on September 18, 2012 to shareholders on record as of August 28, 2012.

Citi Philippines bags twin awards

CITI Philippines is the Best Consumer Internet Bank and the Best Corporate/Institutional Internet Bank in the country, as adjudged by New-York based media company Global Finance.

This is the 7th win for Citi in the consumer category while it has cornered the corporate category for six consecutive years.